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ARTICLE · 04 NOVEMBER 2016

ICSA, QCA And GC100 Guidance On Dealing Codes

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The ICSA, the Quoted Companies Alliance and GC100 published guidance on dealing codes under MAR and submitted these to the FCA and London Stock Exchange ("LSE") for review and comment.

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On 24 June 2016, the Institute of Chartered Secretaries & Administrators ("ICSA"), the Quoted Companies Alliance ("QCA") and GC100 published guidance on dealing codes under MAR and submitted these to the Financial Conduct Authority ("FCA") and London Stock Exchange ("LSE") for review and comment. The guidance features a policy that explains the relevant provisions of MAR to directors and employees in an easily-digestible format.

The guidance includes a specimen code that contains clearance procedures for PDMRs and further information on the obligations of the company in relation to refusing clearance, notification of PDMR transactions and the obligations that exist with regard to PDMRs' connected persons.

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